RISE Dispensaries to Launch Legal Cannabis Sales at All Five RISE Ohio Locations on August 6
Rhea-AI Summary
RISE Dispensaries, owned by Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), will launch legal cannabis sales at its five Ohio locations on August 6, 2024. The dispensaries in Cleveland, Lakewood, Lorain, and Toledo will open from 7:00 a.m. to 8:30 p.m., offering products from Green Thumb's brands including RYTHM, incredibles, Beboe, Good Green, Doctor Solomon's, and &Shine. First-day profits will be donated to local nonprofits. Green Thumb has been serving Ohio's medical cannabis community since 2019 and operates a manufacturing facility in Toledo. The company aims to introduce more Ohioans to its brands while maintaining safety and product quality standards.
Positive
- Expansion into Ohio's legal cannabis market with five dispensaries
- Potential for increased revenue from new customer base
- Donation of first-day profits to local nonprofits, potentially improving community relations
- Established presence in Ohio since 2019, including a manufacturing facility
Negative
- None.
News Market Reaction – GTBIF
On the day this news was published, GTBIF declined 6.85%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Legal Cannabis Sales to Begin at 7:00 a.m. on August 6 at RISE Dispensaries in Cleveland, Lakewood on Detroit, Lakewood on Madison, Lorain and Toledo
CHICAGO and VANCOUVER, British Columbia, Aug. 05, 2024 (GLOBE NEWSWIRE) -- RISE Dispensaries, a rapidly growing cannabis retail chain owned by Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), today announced that it will commence legal sales at its five Ohio dispensaries, with locations in Cleveland, Lakewood on Detroit, Lakewood on Madison, Lorain and Toledo, beginning August 6. RISE Dispensaries will be open to patients and customers starting on August 6 from 7:00 a.m. to 8:30 p.m. Each dispensary will donate profits from the first day of legal sales to a local nonprofit organization, including Lakewood Alive, LGBT Community Center of Greater Cleveland, Lorain County Urban League and Toledo Black Queer Collective.
At RISE Dispensaries, patients and customers can explore products from Green Thumb’s family of brands, including RYTHM premium indoor hand-trimmed flower, incredibles and Beboe gummies, Good Green flower, Doctor Solomon’s tinctures and &Shine vapes.
"Our team is honored to celebrate this historic milestone with the people of Ohio as the Buckeye State kicks off legal cannabis sales,” said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler. “Safety and product quality are the cornerstones of our operations and we look forward to introducing more Ohioans to our industry-leading brands like RYTHM, incredibles and Beboe.”
Green Thumb President Anthony Georgiadis added, “We are excited to open our doors to new Ohio customers and introduce them to the RISE experience. Our knowledgeable team is ready to help customers on their cannabis journey while continuing to provide best-in-class service to our amazing medical patient community.”
Green Thumb began serving the Ohio medical cannabis community in 2019 and operates a state-of-the-art manufacturing facility in Toledo and five RISE Dispensaries across the state, including:
- RISE Dispensary Cleveland: 1222 Prospect Ave E, Cleveland, OH 44115
- RISE Dispensary Lakewood on Detroit: 18607 Detroit Avenue, Lakewood, OH 44107
- RISE Dispensary Lakewood on Madison: 11818 Madison Avenue, Lakewood, OH 44107
- RISE Dispensary Lorain: 1920 Cooper Foster Park Rd, Lorain, OH 44053
- RISE Dispensary Toledo: 3157 W Sylvania Ave, Toledo, OH 43613
For more information on RISE Dispensary locations, including hours of operation, online pre-ordering, product availability, and medical patient benefits, please visit oh.risecannabis.com.
About RISE Dispensaries
RISE Dispensaries is a national cannabis retailer on a mission to promote well-being through the power of cannabis. Founded by Chicago-based Green Thumb Industries, RISE Dispensaries bring patients and customers the best, hand-picked products at a great value – all while providing best-in-class service, such as home delivery, virtual pharmacist consultations and mobile pre-ordering (services vary by market). RISE offers premium, high-quality cannabis products in a welcoming environment, featuring Green Thumb's award-winning family of brands such as &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles and RYTHM. Since opening its doors in 2015, RISE has grown its national footprint to 97 retail locations across 14 U.S. markets and serves millions of patients and customers each year. More information is available at www.risecannabis.com.
Investor Contact:
Andy Grossman
EVP, Capital Markets & Investor Relations
InvestorRelations@gtigrows.com
310-622-8257
Media Contact:
GTI Communications
media@gtigrows.com
FAQ
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